OUE Commercial REIT - Annual Report 2021

FINANCIAL HIGHLIGHTS FY 2021 (S$’000) FY 2020 (S$’000) Change (%) Revenue 249,884 292,007 (14.4) Net Property Income 204,205 231,890 (11.9) Share of Joint Venture Results 1 13,236 – N.M. 2 Amount to be Distributed 3 142,032 4 132,822 5 6.9 DPU (cents) 2.60 2.43 7.0 BALANCE SHEET HIGHLIGHTS As at 31 December 2021 Total Assets (S$’000) 5,832,521 Total Borrowings 6 (S$’000) 2,256,624 Unitholders’ Funds (S$’000) 3,127,996 Market Capitalisation (S$’000) 2,394,747 Number of Units in Issue and to be Issued (’000) 5,449,685 KEY FINANCIAL RATIOS As at 31 December 2021 Aggregate Leverage (%) 38.7 Weighted Average All-in Cost of Debt (% per annum) 3.2 Weighted Average Term of Debt (years) 3.0 Interest Coverage Ratio (times) 2.8 Adjusted Interest Coverage Ratio (times) 2.7 NAV per Unit (S$) 0.57 Total Operating Expenses 7 to NAV (%) 2.8 Notes: 1 Share of joint venture results comprised OUE C-REIT’s 50% interest in the profit after tax of OUE Bayfront (“BPH PropCo LLP”) 2 Not meaningful 3 Net of working capital requirements in relation to the hospitality segment 4 Included the release of S$5.0 million of distribution retained in FY 2020 and S$5.4 million capital gain distribution from divestment of OUE Bayfront 5 S$5.0 million of distribution was retained to preserve financial flexibility in view of uncertainties posed by the COVID-19 situation 6 Includes OUE C-REIT’s share of OUB Centre Limited’s loan and BPH PropCo LLP’s loan. OUE C-REIT’s interest in One Raffles Place and OUE Bayfront are held via its indirect interest in OUB Centre Limited and direct interest in BPH PropCo LLP, respectively 7 The total operating expenses incurred by OUE C-REIT Group and OUE C-REIT’s proportionate share of operating expenses incurred by its joint venture amount to approximately S$86.2 million. The amount included all fees and charges paid/payable to the Manager and interested parties 7 A N N U A L R E P O R T 2 0 2 1